Tata Power gets LoI from PFC Consulting to acquire SPV in Odisha 
Corporate Watch

Tata Power gets LoI from PFC Consulting to acquire SPV in Odisha

Tata Power on Monday said it has received a letter of intent from PFC Consulting to acquire a project-specific special purpose vehicle

PTI

New Delhi: Tata Power on Monday said it has received a letter of intent from PFC Consulting to acquire a project-specific special purpose vehicle.

PFC Consulting is a wholly-owned subsidiary of Power Finance Corporation.

PSU Watch is now on Whatsapp Channels. Click here to join

In an exchange filing, Tata Power said it "has received a Letter of Intent (LoI) from PFC Consulting to acquire Paradeep Transmission Ltd, a project special purpose vehicle (SPV)."

The SPV would be developed on build, own, operate and transfer basis, to provide transmission service for 35 years from the schedule date of commercial operation, it said.

The date of commercial operation is effective 24 months from the date of SPV acquisition, Tata Power said.

The scope of project involves constructing 2 x 1,500 MVA (megavolt ampere), 190 km of 765 kV (kilovolt) double circuit transmission line from existing Angul substation to the proposed substation at Paradeep, Odisha among other project related work.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

OIL, BPCL sign JV agreement to develop city gas distribution network in Arunachal

Markets decline in early trade after US moves to levy additional 25% tariffs

BPCL expects full-scale development to resume soon at Mozambique LNG project: CMD

Govt appoints Akash Tripathi (IAS) as new Managing Director of SECI

Indian Oil raises Russian crude share to 24% in Q1, sees refining capacity hitting 98 MTPA by 2026